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Harmony Gold Mining Company (HAR) investor relations material
Harmony Gold Mining Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary28 Aug, 2025
Executive summary
Achieved record cash flows and met production guidance for the tenth consecutive year, supported by operational excellence and high-quality orebodies.
Maintained robust safety performance with the lowest ever LTIFR and a proactive safety culture.
Delivered strong financial and operating results, with group gold production at the upper end of guidance and all-in sustaining costs in line with expectations.
Embedded sustainability practices recognized by third parties, with improved ESG ratings and progress on decarbonization targets.
Financial highlights
Revenue grew 20% year-over-year to ZAR74 billion, with net profit up 67% to ZAR15.5 billion and EBITDA rising 37% to ZAR26 billion.
Adjusted free cash flow surged 54% to ZAR11.1 billion at a 16% margin; net cash on balance sheet increased 285% to ZAR11.1 billion.
Headline EPS up 25% to ZAR2,337 per share.
Declared record total dividend payout of ZAR2.4 billion, with a final dividend of ZAR155 per share, up 30% year-over-year.
All-in sustaining costs increased 17% to about $1,800/oz, reflecting lower planned production and higher sustaining capital.
Outlook and guidance
FY26 production guidance set at 1.4–1.5 million ounces, with underground grades above 5.8g/t and AISC between ZAR1.15–1.22 million/kg.
Total capital expenditure for FY26 is ZAR12.95 billion, mainly for fleet replacement and project advancement.
Copper expected to contribute 40% of production by FY35, supporting long-term growth and diversification.
Mack Copper transaction expected to close in October, with Eva Copper final investment decision later in the year.
Mponeng grade sustainability beyond current levels
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Next Harmony Gold Mining Company earnings date
Q1 202610 Nov, 2025
Next Harmony Gold Mining Company earnings date
Q1 202610 Nov, 2025
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Frequently asked questions
Harmony Gold Mining Company Limited is a South African gold mining and exploration company. It operates underground and surface mines in South Africa and Papua New Guinea. The company is involved in the full mining value chain from exploration and extraction to processing and refining. The company is headquartered in Randfontein, South Africa, and its shares are listed on the JSE.
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